Marketing Stratgey Of Insulin Products Of Novo Nordisk In China

This study analyzes and evaluates the strategy that Novo Nordisk follows in marketing its insulin products in China. Firstly, it provides an overview of the Chinese diabetes care industry, focusing on the general market situations including trends of insulin products, competitive dynamics and unique customer needs. Based on the analysis, the study identifies t two strategic issues that would play a key role in Novo Nordisk's further development in the Chinese market: 1) how to maintain the leadership position against increasingly more powerful competitors and 2) how to improve the rate of diagnosis and that of recovery in order to expand its customers base.With these two questions in place, the study examines Novo Nordisk's positioning strategy, product portfolio strategy, promotion strategy as well as sales and distribution strategy in China. The examination suggests that the company's current strategies such as product upgrading and patient and doctor education are basically effective. However, to better tackle the above mentioned two strategic issues, we would recommend that Novo Nordisk pay more attention to R&D, cost reduction and forming partnership with strategic stakeholders in China. Considering the unique challenges of marketing pharmaceutical and health care products, this study also provides insights regarding the tactics that might help improve Novo Nordisk's market penetration and sales management in China.